Penn-North Plaza Inc

Analysis

Penn-North Plaza Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in May 1991, 35 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Penn-North Plaza Inc reported income of $616k and spending of $708k, spending 115% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $525k to $616k (+17%), an average of +4.1% a year. Over the whole period it spent 117% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Penn-North Plaza Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 72nd percentile within MD. Charities of a similar size with the same main cause include Neighborhood Housing Services of Southwest Wisconsin Inc ($616k), Lutheran Bible Camp Inc ($617k) and Fair Hill International Three Day Event Inc ($616k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. Other salaries and wages came to $100k. At year end it held assets of $1.3m against liabilities of $4.1m, net assets of -$2.9m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.